February 4, 2022
THEY ALSO SERVE WHO ONLY WATCH AND WAIT?
Speaking of BTC and ETH, is this the most important moment to relax and wait until the breeze turns in a certain direction? I would say- yes- but my point of view doesn’t really count. But in this edition off the Cryptonic Voyage, in my opinion, I do present a few voices worth listening to.
Right now, as I write this, BTC has climbed to 40,696 and is up 10.28% in the last 24 hours.
Ethereum is now 2970.01 and is up 12.97%. No doubt, if things go one way or another, I would not be surprised if I have to change these figures before I publish. Are we headed somewhere significant or somewhere else?
For the first time, I am publishing two videos from MMCrypto, which are both connected. In the following Video. which is titled Bitcoin HUUUGE EMERGENCY, Chris deals with need to wait until the BTC reaches the 41-42.000 level before making any purchase. Now even these moves, in my opinion, are risky= because reality does not always follow patterns on a chart, however valuable they in making predictions.
The next video from Chris deals with the resistance levels that must be overcome and the possibilities they will or will not. When thinking of our current situation with BitCoin and faced with the perpetual conundrum of its upward movement, I am still concerned (as I have made multiple mistakes in the past) that this could be a fake out (when investors see an asset that they thought would move upward, moves suddenly downward). Of course, my actual investments were actually microscopic, but they were still painful because I am a microscopic investor. Bottom line, stolen from a famous John Milton sonnet, “They also serve that only watch and wait.” This means to me that there are important moments in trading when you need to “cool your jets.” Milton probably would have preferred to use use this more modern phrase if he hadn’t died centuries ago. We may need to cool our jets- but maybe not for too long, depending on our capacity or desire to invest in BTC.
Yes, Chris at MMCrypto has discovered another possible signal on the charts, normally bearish but something of value to investigate because this same signal sometimes functions contextually to support a bullish direction. To make the point, here are business insider definitions from the following article , titled Bitcoin Investors Love the Golden Cross and Death Cross — it says why they often matter but also how there are other factors to keep in mind.
These definitions are somewhat dissected and modified in the article but perhaps not in the same way Chris is discussing his interpretation.
What is the death cross? The death cross, on the other hand, is the exact opposite of the golden cross and tells you that the market is about to make a downturn, which means you may want to take your money out beforehand.
What is the golden cross? The term ‘ golden cross’ is used in traditional stock trading, and its meaning doesn’t change for Bitcoin either. A golden cross occurs when the short-term moving average of an asset crosses the long term moving average.
So here is what Chris actually says. Always interesting.
Would you like a professional business book to introduce yourself to new clients or to let your current clients know more about you and your business?
Once they get into the BTC and ETH, TJ and BitBoy (Ben) admit they took profits at 40K- not much but they both conceded it was painful. Why painful? Because they think it could be going up. But as BitBoy says- if the market starts to flip to the downside, they will wish they had taken profits. Why do they think it could go up? Perhaps Chris’ discoveries are in the direction of their thinking? But there can be all types of spins on technical analysis.
Another point that he makes is not to be concerned with ultimate bottoms and ultimate tops. I admit that I was very hypnotized about the bull run to come and had no idea of the volatility and the challenges to Crypto. For that reason, I invested a number of times with the thought that things would rise phenomenally and fast at a certain near point. Now, I see the advantage at looking at everything- past history, technical analysis, current events and news affecting prices, the correlation between BTC and the stock market- and then eventually trusting my intuition.
Here is a special treat for you- from the BITCOIN FOR CORPORATIONS CONFERENCE that Michael Saylor created. This includes an in-depth discussion on Bitcoin between two visionary voices, @jack and @saylor. A historic discussion that covered everything from what Bitcoin means to the World, to what Bitcoin means to Corporations, with much in between. – Jack Dorsey, CEO of Block – Michael Saylor, CEO of MicroStrategy.
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In our New Galaxy Blogs, we share various types of videos for you to scrutinize. Unless we specifically say so, we do not necessarily agree with their content, in whole or in part. Sometimes, we will present written or audio/video material concerned with health or financial issues. We always recommend that before you try anything, you check with your medical or certified health professional before engaging in a health protocol- and with your best qualified financial advisor before embarking on any financial adventure
